Fraud is always possible no matter the regulatory environment. Thus a false sense of security is worse than none at all.
https://sheldonfreeassociation.blogspot.com/2022/11/tgif-beware-regulatory-storm-over-ftx.html
Category: Cryptocurrency
The False Face of SBF, FTX, and ESG
The vast majority of ESG funds and firms are similarly misdirective. Freewheeling use of terms like “sustainable” obscure a wide variety of investment activities, some decidedly at odds with common public notions of “green” investing. Between 2019 and June 2022, some 65 US funds were re-branded as “sustainable,” without any consensus as to the meaning of the term.
Criminal Code
“…individuals have a right to financial privacy. There is no legitimate reason to require payments be processed through some intermediary that requires an account and identifying information.”